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WETA
Jan 30, 2013 6:30pm EST
. the economy is barely growing, so the federal reserve says it will keep buying bonds to stimulate growth, and create more jobs. >> tom: i'm tom hudson. facebook's latest earnings beat the street, but while the company saw big gains in mobile ad sales, it's costs also shot up. >> susie: and rim, rolls out the new blackberry 10, a new name, and a new ticker symbol, we look at what's riding on all those bold moves. >> tom: that and more tonight on "n.b.r."! >> susie: the federal reserve said the economy "paused" in recent months, so it's keeping its key interest rate near zero. the decision from policymakers today came on a day of mixed reports about the u.s. economy. on the jobs front, a strong payrolls report showed private employers added 192,000 jobs in january, much more than economiste eecxpd. but the commerce department said economic growth, contracted in the last three months of 2012. the g.d.p. shrank by 0.1% the first time that's happened since the financial crisis began. the fed said in its policy tatement today that it continues to see "downside risks" to the economy. une
FOX News
Jan 30, 2013 3:00pm PST
for watching. >> bret: a short term the wrong way. the economy slinks bringing on fears of a new recession. this is "special report." ♪ ♪ >> bret: good evening. i'm bret baier. hard slap in the face tonight from reality. economy thought to be improving shocked experts and shrank in the final months of last year. huge falloff from gain last summer. white house correspondent wendell goler with an explanation and reaction. >> less than two weeks after the president said in the second inaugural address that an economic recovery had begun, the commerce department said not so fast. the biggest drop in defense spending in 40 years combined with a decline in exports and slow growth in company stock piles slashed economic growth from 3.1% in the third quarter to minus 1/10th in the fourth. first negative quarter since 2009. white house downplayed the report and gave the republicans part of the blame. >> home prices are starting to climb back. consumer confidence overall has been rising and consumer spending is rising. but there is more work to do. our economy is facing a major head wi
CSPAN
Jan 30, 2013 7:00am EST
that when it came to the economy, and i quote, the good news will keep coming. after last week's growth figures it obviously hasn't. what is his excuse this time? >> as the right honorable gentleman nose gdp in the third quarter of last you went up by 4.9%. and is forecast by the office of -- it fell by 23%. only honorable members opposite each year that news. [cheers and applause] >> i think the right honorable gentleman should listen to the governor of the bank of england who said this. our economy is recovering more slowly than we might wish, but we are moving in the right direction. the fall in unemployment number clearly back that up. >> ed miliband. >> what an extraordinarily complacent answer from the prime minister. let us understand the scale of his failure on growth. they told us in autumn 2010 that by now the economy would have grown by over 5%. can the prime minister tell us by how much the economy has actually grown since then? >> there's absolutely nothing complacent about this government. that is why we are cutting corporation tax. we are investing in enterprise zone, a m
FOX Business
Jan 30, 2013 6:00pm EST
outright lie about where it's made. if you want a healthy economy, keep jobs at home, how can you be sure you do the right thing. to sort through it all is todd marks. todd, great to have you on the show. thank you so much for being with us. >> oh, my pleasure, gerri. gerri: how do you know? they label these things every which way. how do you know which products are made in america? >> well, they are very serious and very complex, arcane rules governing what it means to be made in america. there's claims called qualified, made in the usa, no ambiguity. there's qualified claims, made in the u.s. of parts made in china. they are created here. gerri: hey, todd, like apple, created in california, asemilled in china. >> that confusion prompts people to scratch their head. we get letters all the time. how can it be? the laws are clear, but they are not. well, they may state that, you know, when they create laws about what it mean to be made in america, it says, in order to say it's unqualified made in america, there can be no ambiguity, and you don't want to mislead a reasonable person.
CSPAN
Jan 30, 2013 5:00pm EST
the norm recently because of this administration. it's the norm because the economy collapsed. we all remember that the economy collapsed. and to withdraw federal spending from a collapsing economy is only to make things worse. the economic collapse created these deficits, and as the economy recovers, we can draw this will down. now, there's not aagreement on that. some have preached austerity as the way forward when the economy coul lapses. -- collapses of the and when this withstand, there was lively debate between those who support that would be more sensible than austerity. we're past us a started and now into experience much the experience of foreign countries belies that austerity works when economies are collapse ago. from spain to greece, european countries that responded to the economic downturn by slashing their budgets are suffering from shrinking economies and persistent double-digit unemployment rates. a recent i.m.f. report estimates that budget austerity in a weak economy might actually inflict significant harm and have a much lower-than-expected effect on the deficit,
CNBC
Jan 30, 2013 3:00pm EST
understand the point. rick, is your point that this weak economic report we got today shows the economy is truly weak, or are you agreeing with the consensus that it shows that government spending was the reason for the weakness? >> no. i'm saying government spending isn't really addressing some of the main issues of weakness, and when did we -- when did we have an amendment saying we're banning recessions. if the economy is destined to be smaller to get healthy, let it happen. >> but hold on, rick. what was interesting about this report to my mind was that consumer spending and business spending actually held up in the face of government spending. >> that's a wonderful thing, and i like that thing. >> it reilly should be for investors the one of figuring out in a world that looks like it will be one of declining government spending, what will happen to private sector spending and investment? >> it will reallocate the capital better. >> hey, rick, you're not going to get the end result that you think you will. nothing makes sense. i agree 100%. guess what's going to happen? we're going to
CBS
Jan 30, 2013 6:30pm EST
bernard. the economy suddenly stops growing. anthony mason looks at the surprising new numbers and with the super bowl coming this weekend, jim axelrod in new orleans, where the city's chefs have served up an economic recovery. >> reporter: the population shrunk, and yet the number of the restaurants went up? >> yeah, it's a miracle, isn't it? captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. the senate judiciary committee had assembled for the first congressional gun control hearing since the sandy hook tragedy when the surprise witness appeared. former congresswoman gabrielle giffords of arizona was led by the hand by her husband, mark kelly. it was two years ago this month that giffords was shot through the head during a meeting in tucson. 18 others were shot and six died. a day of testimony began with this: >> speaking is difficult, but i need to say something important. violence is a big problem. too many children are dying. too many children. we must do something. it will be hard, but the time is now. you must act. be bold. be c
CSPAN
Jan 30, 2013 7:00am EST
go out and try to earn a living. often they do that in the shadow economy, a place where employers may offer them less than the minimum wage or make them work overtime without extra pay. when that happens, it's not as bad for them, it's bad for the entire economy, because all the businesses that are trying to do the right thing that are hiring people legally, paying a decent wage, following the rules, they are the ones to suffer. they have got to compete against companies that are breaking the rules. the wages and working conditions of american workers are threatened as well. if we are truly committed to strengthening our middle-class and providing more ladders of opportunity to those who are willing to work hard to make it into the middle class, we've got to fix the system. we have to make sure that every business and every worker in america is pulling by the same set of rules. we have to bring in the shadow economy into the light so that everybody is held accountable. the businesses and the immigrants getting on the right side of the law. common-sense. that's why we need comprehe
FOX News
Jan 30, 2013 4:00pm EST
rest of breaking news throughout the afternoon. i'm shepard smith. >> neil: economy is suffering, is this time to be hiking. i'm eric bombing and the economy isn't just slowing it's shrinking. it dropped by tenth of percent. it's the first time that happened in three and a half years. all this as democrats are pushing for more tax hikes. former reagan advisor art laffer says that is the last thing we need. first thing in three and a half years we will an actual contraction in the economy and brought it to 2.1%. we spent $5.8 trillion and this is what we get for it. >> it's just dumb on the outside. government spending is milton friedman is taxation. government doesn't create resources, it redistributes resources and this government spending is why we had the recession. obama continued the bad job for four straight jobs and this is the result. >> eric: but they would say isn't for government spending we would have no growth? >> government spending it's not in spite of government spending it's because of the government spending. we think of it, you got two guys in the world, "a" and "b
PBS
Jan 30, 2013 1:00am PST
, i think it's going to cause... have many negative effects on the economy. >> reporter: however, if mortgage rates only move up slightly, that's likely to bring more buyers into the market. that's because many people have been waiting on the sidelines for a signal the housing market has bottomed. suzanne pratt, "n.b.r.," new york. >> tom: as home prices have risen, so have the stock prices of many home builders, with the stock prices more vulnerable than the housing market. the yellow line, the year-over-year changes in home prices. the blue line, the home builders' stomach exchange traded fund. they move higher before home prices do, and move lower before the prices crack. megan mcgrath is with us tonight. you've looked at this relationship between the actual price of homes and the home building stocks. what does the rally in home building stocks tell you today about home prices in the month ahead. >> it is certainly telling us investors are expecting prices to continue to go up, and to go up quite a bit. prices as well as volume. there is a relationship there, too. we heard some g
KCSMMHZ
Jan 30, 2013 2:30pm PST
sluggish economy is a high priority, so is proving his democratic credentials to his western partners. he said he would push forward with democratization. >> egypt will be a state that tolerates different and opposing opinions with peaceful transfers of power and a democratic state with everything that entails. >> merkel said she was concerned about the political violence in egypt and said dialogue was key. >> political forces can make a contribution. human rights have to be respected in egypt, and that applies most importantly to the protection of religious freedom. >> two more people died in cairo on wednesday in clashes between police and demonstrators. the death toll has now reached 50 in a week of protests. two years after a revolution swept morsi's predecessor from power. berlin has criticized his recent attempts to consolidate power is, and his opponents in the german capital were warning of a new dictatorship and egypt. >> our correspondent has been following the president's visit for us. does morsi get any of the investment and all of that that he has been looking fo
CNBC
Jan 30, 2013 4:00pm EST
face some pretty big headwinds from the economy, so i'm cautious about the next few months here. >> cautious about the next few months, so does that translate into taking money out of stocks? is this rally that we've been seeing, even though we saw fractionial losses today, is it justified given these expectations that you think the economy turns downward? >> i think if you look just at the earnings picture and ignore what's going on in washington, the markets should be up even more. i mean, there's plenty of room for stocks to rally, and i do think once we get past this miss call austerity the rally will resume. we have to keep in mind that the market up until now has not seen really weak data, and it's about see some very soft consumption numbers. have you a $200 billion tax increase this year and a $110 billion sequester. these are not small fiscal tight things. it means that first and second quarter are going to be very weak. it's no longer going to be talking about the risks of the fiscal cliff. we're actually getting about half of the fiscal cliff, so i think you're suppos
FOX News
Jan 30, 2013 2:00pm PST
now. >> dana: we'll get to the second topic. news today about the economy that was surprised a lot of economists. they weren't expecting for the economy to actually slink. contracted in -- actually shrank, contracted in the fourth quarter. >> eric: everybody says everything is great, obama recovery is great. see the line right there? it should be negative. it is below the line. economy shrank by one-tenth of 1% catching people by surpris surprise. >> dana: caught people from surprise? >> eric: everyone. everyone. everyone. everyone said wait a minute, we're moving. it wasn't 3.1% growth like the third quarter was. we thought it would be in the 1.5-2% growth, but growth none. first time in 3-1/2 years. we have spent $5.8 trillion, negative growth. >> greg: this is great, though. this is all part of president obama's immigration plan. shrink the economy, people leave. genius. >> dana: do you think it's weird that the white house blamed the republicans today faz they have nothing to do -- >> bob: i think, i think the serious blame goes to sandy more than anything else. i don't think i
CNBC
Jan 29, 2013 7:00pm EST
or the economy. that is not going to disappear. we have to face that reyagity. i say, i like senator vitter on many issues. i disagree on this issue. i think we start taxing these people. they are already benefiting from the social serve thes and encase system. so let's tax them. from a security point of view, this is helpful and i think that this is not an amnesty. you are letting people go of a crime. these people are going to have are to pay taxes and crimes. i cthink it is a brilliant program. the only thing stopping it is president obama if he does not agree to it. >> if this does not have border security in it. the republican party, to me, if you give the free flow of immigration for workers, there can still be border security, there could be -- right? anybody who wants to come for legitimate reason ares wants to come. >> right. >> larry, can i ask a question? >> what i want to say, all right i'll direct it tow. the gop should be the party of growth and opportunity and the party of entrepreneurship and the party of upward mobilitity. here is my point. if the brainyacs come in b
FOX Business
Jan 30, 2013 12:00am EST
with us here in chattanooga, and, of course, as the economy went bad, that was a downer for everyone, and then the stimulus money came along. we, fortunately, had already completed a very comprehensive business plan that showed that the system would work, and it would pay for itself over time with the savings that can be achieved from the new technology. melissa: yeah, they were giving away good money after bad for, you know, whatever project was going, so you might as well grab it and spend it on good if they spend it no matter what. geek move, awards $11,250 for moving into the city, $10,000 for expenses, and 12,000 for moving. how many show an interest in the opportunity? >> we've had a hundred applications and we'll filter through them. it is a success based on a similar success a few years ago with artists, encouraging people to move here for a specific purpose, and we have neighborhoods where houses are going wadding. geeks, that's a good term in chattanooga, urban pioneers frequently, so with a little incentive, we can bring individuals to chat chattanoogao otherwise might loo
CNBC
Jan 30, 2013 4:00am EST
seen. >>> first up, spanish economy contracted more than forecast with gdp down 1.8% annually, .7% from the previous quarter. analysts were looking for a smaller 1.7% drop over last year. speaking after the release, the spanish prime minister, mariano rajo, planned to announce new stimulus measures shortly. joining us are sarah perez fruitos, manager at brunswick capital, and sarah foley. add the gdp number to the awful retail sales, forecasts now that spain will still be in contraction in 2014, i don't see how it's at all possible the spanish government is going to meet -- they'll set out revised budget targets. i don't see how they'll meet any of them. >> really, the t's about the figures that we knew this morning. basically because last quarter we have an increase on the vat taxes and really we pass from the bat from 70% four years ago to 21% now in the last quarter. really as you say, the retail -- the consumer has fallen down dramatic. we need to remember that the public employees has cut their extra payment from the christmas extra payment. and this situation with no more ex
FOX Business
Jan 30, 2013 5:00pm EST
mean the economy is doing all right. and, you know, the question is going to be now what does congress and president do together. melissa: simon, we're not growing. it is negative. that is the point of the segment. we're not growing. >> i understand. the thing is the economy is doing all right. it is not doing really bad. it is not doing really great. somewhere in the middling place it has been last couple years. that didn't substantially change. as you heard from the other guests. the key thing what is congress and the president going to do? how do we balance need for more growth with also deficit reduction in the next few months. that is where the big battle will be in washington i think. >> let me answer that question. melissa: go ahead. >> i think it is a good one. this is the big political battle, this is one of the reasons i think that the huge fiscal stimulus we had in 2009 was such a expensive mistake because what we did essentially we overloaded the economy with all of this deluge of government spending and essentially what we've done now is we're falling off this kind of clif
CNBC
Jan 30, 2013 6:00am EST
strategy to boost the economy. blackberry 10, research in motion is unveiling its latest and greatest device in hopes of saving the battered company. boeing, the dow component releasing quarterly results around 7:30 a.m. eastern time. we will have instant reaction and more on the dreamliner battery drama. and last but not least, the bulls going on another run. the dow jumping another 72 points to close just 46 points away from 14,000, just 210 points away from its all-time closing high. we have a big lineup covering the rally, the fed, and the economy this morning. >>> ed keon of quantitative management associates and dan greenhouse of btig will be serving up the markets for us. fed watchers will join us at 7:40 a.m. moody's chief economist, mark zanby will have the adp report at 8:15. >>> former national bureau chief marty feld stein will wrap it up at 8:40 a.m. eastern time. a big lineup. andrew, over to you. >> thank you. >>> the big news, the national transportation safety board is asking boeing for a full history of the lithium icon batteries used in the dreamliner jets. the ntsb
CBS
Jan 29, 2013 7:00pm EST
economy. >> reporter: however, if mortgage rates only move up slightly, that's likely to bring more buyers into the market. that's because many people have been waiting on the sidelines for a signal the housing market has bottomed. suzanne pratt, "n.b.r.," new york. >> tom: as home prices have risen, so have the stock prices of many home builders, with the stock prices more vulnerable than the housing market. the yellow line, the year-over-year changes in home prices. the blue line the home builders' stomach exchange traded fund. they move higher before home prices do, and move lower before the prices crack. megan mcgrath is with us tonight. you've looked at this relationship between the actual price of homes and the home building stocks. what does the rally in home building stocks tell you today about home prices in the month ahead. >> it is certainly telling us investors are expecting prices to continue to go up, and to go up quite a bit. prices as well as volume. there is a relationship there too. we heard some good things about pricing today from daryl horton, prices up 9% 6% on
ABC
Jan 30, 2013 12:00pm EST
and dismissed the report as stupidity. >> maryland governor martin o'malley focused on the economy and education in his state of the state this morning. he says maryland is ahead of the other states because of fiscal choices made during the recession. moving ahead, he will increase the rainy day fund protect the aaa bond rating and cut spending by eight $.3 million. >> the us economy shrank despite a increase in consumer spending because of big one-time factors like the shrink in defense spending. it is the first time the economy has contracted since the recession ended. coming up, a hostage situation underway in alabama. we have details on how authorities are trying to save a six-year-old child from armed gunmen. >> another miracle on the hudson and this is caught on tape. >> a new study that takes a different approach to losing weight. next jacqui jeras will be back for >> the gun-control control debate is heating up on capitol hill with the senate judiciary committee hearing on gun violence underway for the first hearing since the sandy hook shooting. one of the witnesses with c
PBS
Jan 30, 2013 3:00pm PST
and cuts in defense spending. it did not announce any new action to stimulate the economy. wall street reacted by giving up some of its recent gains. the dow jones industrial average lost 44 points to close at 13,910. the nasdaq fell 11 points to close at 3,142. those are some of the day's major stories. now, back to jeff. >> brown: whither the economy? that's been the question for quite a while now. today, there was a surprising and perhaps confusing new twist. the commerce department reported that gross domestic product actually shrank in the last quarter of 2012. the drop was small, one tenth of a percent. but it was still the first time economic output had fallen in three and a half years. government spending dropped, most dramatically in the defense sector. the report, though, also contained some positive developments: consumer spending and business investment were both up. and yesterday, the so-called case-shiller index found that housing prices grew in 20 major cities by an average of 5.5% over the previous year. it was the biggest gain in six years. we talk it through, w
Current
Jan 29, 2013 7:00pm PST
here is to help undocumented immigrants who are already a part of the this country's economy and he made the argument that helping them would help all americans. >> obama: every day, like the rest of us, they go out and they go out and trytry to earn a living. they often do that in a shadow of economy where employers may offer them less than minimum wage or make them work overtime without extra pay. when in a happens, it's not just bad for them but the entire economy. because all the business who is are trying to do the right thing thing, hire people legally following the rules, they are the ones who suffer. >> jennifer: he's right, the shadow economy hurts everyone, particularly the workers who are operating in it. 67% of domestic workers are paid below the minimum wage. less than 2% receive retirement or pension. 65% of those workers don't have health insurance and there is absolutely no recurs. 85% of undocumented immigrants who encounter problems in their working conditions didn't complain because of their shaky immigration status. they have reason to be concerned, that it would
CSPAN
Jan 30, 2013 9:00am EST
american economy will annually create more than 120,000 additional computer or science jobs that were require at least a bachelors degree. that's just mention one aspect of this. this is great news for many of our computer science students. and for joy that is the end of the good news. each year only about 40,000 american students receive bachelor degrees in computer science. in other words, there are approximately 80,000 new computer science positions every year in the united states cannot be filled by available american workforce positions. and i have positions that need to be filled so that our technology industry can continue to thrive. simply put, u.s. based companies have a great need for those trained in the science, technology, engineering and math fields. but at least right now there are not enough americans trained and ready to fill these jobs. we cannot continue to simply hope that american companies do not move operations to countries where they have greater access for individuals trained in these s.t.e.m. fields. we cannot continue to ignore this problem. it's that simple
FOX Business
Jan 30, 2013 3:00pm EST
at that and you say well that's what happens when you cut government spending. maybe the economy slows down a little bit peter. peter: that's right. a big chunk of that was defense spending and the questions about the fiscal cliff and all these other things that combine to inventory. listen, but the inventory number in the gdp report, there was a shrinkage there that was unexpected. that means that eventually everybody has to increase their inventories; right? so that's good going forward. that means economic activity going forward. liz: silver lining here. listen, i don't have to search hard for it. i don't think it was that bad. it stuns people to see the minus sign and the.1. when you do see the government spending down, defense down 22%. consumer looked better, the best since we have seen i guess since q1 of 2012. thanks peter very much. let's get to the floor show and get the real reaction from the traders themselves. new york stock exchange, cme group and the nymex. let's go to john brady at the cme. what reaction did you immediately see? give us the inside scoop, that pris
FOX Business
Jan 30, 2013 4:00pm EST
economy, well, it's moving in the wrong direction or at least it was in the third quarter. a lot of people say it was an anomaly, a lot of other factors like hurricane figured into those numbers, but are we slipping into a recession? some people are beginning to think so. the fed just said growth paused in recent months. i will be asking a harvard professor if he was -- if he thinks we're in a recession. he was president reagan's chief economic advisor. liz: david we have qualcomm numbers. adam has them. we see right now that the stock is at least in the initial moments moving higher. adam? adam: it is moving higher up over 3%. here's why, it's a beat on both fronts liz. earnings per share came in at $1.26. the street was expecting $1.13. the revenue 6.02 billion, street was expecting 5.9 billion. so qualcomm continues to perform well, especially on revenue. liz? liz: let's keep in mind that qualcomm is in very high end smart phones but they are pushing as paul jacobs the ceo told me in davos last year -- last week, that they are pushing into the so called value phones as well, beca
CNBC
Jan 30, 2013 2:00pm EST
surprise for the fed today? >>, i don't. i think the key issue is how they characterize the economy. it can have its own self fulfilling prophecy but they are also very concerned in the beltway that sequestering will go forward. the consequence us is iy high they will move forward with spending cuts. very aggressive ones on march 1 and that will have, in addition to the fiscal drag, higher taxes. that will hurt the economy which may have to prompt the fed to do more. how they characterize the economy is critical. as i said, they are cognizant about it not be a self fulfilling prophecy. also, esther george is voting and she will be with her predecessor from kansas city this time around as well. >> when you consider the huge reaction and the discussion of how hawkish the minutes are, they are try to get it very, very straight. >> i think they talk about it the last several days. i'm not sure we will see much in terms of the announcement of the minutes. i think they recognize that all asset markets are artificially priced and dependent on the ability of their monetary policy but the ti
CBS
Jan 30, 2013 6:00pm EST
spending. it did not announce any new action to stimulate the economy. wall street reacted by giving up some of its recent gains. the dow jones industrial average lost 44 points to close at 13910. the nasdaq fell 11 points to close at 3,142. those are some of the day's major stories. now, back to jeff. >> brown: whither the economy? that's been the question for quite a while now. today, there was a surprising and perhaps confusing new twist. the commerce department reported that gross domestic product actually shrank in the last quarter of 2012. the drop was small, one tenth of a percent. but it was still the first time economic output had fallen in three and a half years. government spending dropped, most dramatically in the defense sector. the report, though, also contained some positive developments: consumer spending and business investment were both up. and yesterday, the so-called case-shiller index found that housing prices grew in 20 major cities by an average of 5.5% over the previous year. it was the biggest gain in six years. we talk it through, with joel naroff, an economist
FOX Business
Jan 30, 2013 11:00am EST
parents at the same time. >> how can they get ahead when they do not have the economy and the jobs and the opportunities. >> it is utterly wrong. >> i think this is her rent this. >> it is an honor for me to help out my mother. >> everyone just piles into one house because nobody can afford their own things. stuart: any last comments on the sandwich generation? >> it was like we were in the 40s and 50s. stuart: our time is up. dagen and connell, it is yours. dagen: thank you, stuart. i am dagen mcdowell. connell: i am connell mcshane. the economy when it negative. private-sector job growth offering some hope for the road ahead. connell: you only see this on the fox business network. elizabeth macdonald ringing exclusive video showing us how hospitals are putting money before patients. dagen: research in motion rolling out the blackberry ten. a band-aid for a gaping head wound. connell: i love name changes. dagen: let's go to nicole petallides at the stock exchange. good morning. nicole: let's talk about the markets. the dow is down about 14 points right now. we have had the dow not too
CNN
Jan 30, 2013 2:00pm EST
seeing the economy make small improvements. we're seeing improvements in the housing market, consumer spending is going up. i spoke with one trader who was a little concerned that this is an artificial rally system littlit stimulated by the fed. >> you can say we have already been here. but you can say we came from the depths of despair, we're much higher but the thing that will cause people to continue to to be concerned is it still ahead of itself. is there a correction coming because the fed created this -- manufactured this rally. >> but, brooke, you know, think of the stock market as a big old rubber band. as much as it went down in 2009, march of 2009, the low for the dow was 6500, now we're seeing it bounce back almost to 14,000. you know how that is. what goes up, i don't want to say it, brooke. >> darn that economic gravity. alison kosik, thank you very much. we want to keep talking about this. we were thinking why doesn't wall street match what we're seeing on main street. we'll talk about that with steven moore, wall street journal, about why the dow is up and the economy i
ABC
Jan 30, 2013 4:00am EST
. >>> the other big story, the economy. the powerful rally on wall street. if you've invested in stocks, these are good days. >> and for the reasons stocks are reaching near record levels, we're joined by tahman bradley here in new york. >> so nice to be with you here. seems like the economy is turning around. new data is sh are giving both investors and home owners reasons to smile. the economy posts numbers we haven't seen in years. it looks and feels like a comeback. stocks and the nation's housing market are soaring. the dow nearly hit the 14,000 mark yesterday, reaching the highest level in fife years. after an increase in 850 points in january, the dow is only 200 points away in the all-time high. the result, american investments are surging. the average 401(k) retirement account increased 20% in the last year. from $64,000 to $80,000. >> the worst case scenarios, people can start to think, all right, we're not going the go there. >> reporter: on the housing front, home prices rose 5.5% in november. the biggest year to year increase since the housing bubble. >> this is a miracle i
SFGTV2
Jan 30, 2013 4:00am PST
economy. without it, things simply can't exist. woman: we have good health in this country, in part, because we have clean water. and we shouldn't forget that, and we shouldn't take it for granted. melosi: in the late 19th century, serious waterborne disease epidemics were having devastating effects. roy: but then, in the early 1900s, we began to treat our water. and since then, we've seen a rapid decline in the incidence of waterborne disease. narrator: most cities treat drinking water through filtration, chlorination, and sometimes ozonation to kill pathogens in the source supply. these are complex treatment plants that cost millions of dollars to operate, but are necessary for our wellbeing. the treatment of drinking water has been called one of the greatest public health achievements of the last century. the water infrastructure itself protects the treated water until it comes out of our taps. it's been since 1911, since we had an outbreak of cholera or typhoid in the united states. but that doesn't mean that it can't happen. it can happen. if we aren't on our guard all the time
FOX Business
Jan 30, 2013 1:00pm EST
. surprise contraction in gdp. the economy shrinking for the first time in three and a half years. lori: also, betting big on library. research in motion changing its name and unveiling the highly anticipated blackberry 10 device. coming up in minutes. the ceo thorsten heins. melissa: and it turns out japan's two largest airlines have had problems with the dreamliner battery long before the issue. time for stocks as we do every 15 minutes, let's head to the floor of the new york stock exchange. nicole petallides. those gdp numbers keeping the dow away from 14,000. nicole: they certainly did throughout the morning. it brings concern when there is no good gdp numbers. there has been less on defense and concerns, let's take a look now, much like we have seen recently where the dow goes over that one change line over and over again. today seems to be no different as we are back in positive territory. we haven't taken out our highs we saw yesterday, five year highs for the s&p 500, dow jones the thrills, russell 2000. we have had a lot of names and a lot of these indexes hitting these highs
CNBC
Jan 30, 2013 12:00pm EST
happening to the economy? would you say this is the economy on the verge of ooh recession or an economy that's chugging along and not doing too badly? >> you'd say the latter. not doing too badly and it is chucking along. >> let's call up the chart we just had up and show you how we got to negative. do we have it? there it is. there you go. 1.52. all these numbers here add up to 0.14. this is the contribution of gdp from the critical mack rowe sectors of the economy. consumers add 1.5% to gdp. business. government taking off 1.3. this was the worst die klein in national defense spending since 1972. okay? what's going on here? really there's an interesting side note here which is why the street can't do a better job and i mean the forecasters figuring out what's going to happen with defensemen. there were some guys who understood it. the guys who do the bottoms-up stuff seem to have done a better job. >> let me ask you this. will the fed be as dismissive so to speak as the numbers today as the market appears to be? you know what i mean. the market doesn't seem to care about this negative
MSNBC
Jan 30, 2013 3:00pm PST
goes into the family checkbook, it will go right in to the economy which we need right now. to buy shoes, to buy food, to do all the things that occur in the real economy. so we think it's great social policy, but we think it's an economic mandate. >> and senator boxer, that is a fact because with $10,000 less a year, then they earned with men, women could buy, if they had that money, 92 weeks of groceries or 13 months of rent or 39 months of family health insurance premium. i mean, we're talking food, housing, health care. this isn't just a little extra money. this is vital, especially for single moms. >> it is so critical. and it is, you know, what happens is we have a consumer-driven economy. about 70% of our economy depends on the consumer going out and spending. so when senator mikulski describes this, she's exactly right. an when you take it to a further level, it's critical. it's critical for the family. it's critical for retirement. it's critical for the economy. so all of this means we're going to have a real strong push. and i think this year, maybe we'll get it done. >>
CNN
Jan 30, 2013 9:00am PST
better life, better economy. promises made during the revolution. it never came through. the violence has decreased. nothing what we saw over the weekend. but you have people here defying the president's declaration of a curfew and emergency rule where we are in port said. the curfew is technically supposed to go in place in a few hours. but people have told the president, we know there is a curfew. we are protesting anyway. clearly defying him. >> who is in control on the streets? when you look at the pictures you say there is good news that the violence isn't what it was. is there a sense they will continue between the government and protesters that's playing out? lost the signal. we're going to try to get back to him as soon as we can. the turmoil in egypt. real concern for hillary clinton. she talked to cnn about those challenges and what she thinks egypt's struggling new government needs to do. >> it's difficult going from a closed regime and essentially one man rule to a democracy that's trying to be born and learn to walk. there are clear lessons. you have to represent
NBC
Jan 29, 2013 5:00pm PST
positive impact that immigration has on the economy were all well receive people acting in community together said that no one is looking for a free ride. >> i think earned citizenship, people are willing to pay fines for coming here. i -- families have said that to me personally. >> i talked with the pastor of our lady of guadelupe church, who was in the audience and he said that he thinks that immigration reform is imminent. i talked to the father this afternoon, and he said that the president was right to talk about the immigration in terms of the impact on business and the economy. i will share more with you coming up on nbc bay area news. >> chris, we will see you then. still ahead, against all odds, a soldier that survived losing four limbs on the battlefield, now this vet is using his experience to inspire others. >> also, this is a story that belongs to everyone. and it is so cool to be able to share this with everyone. >> a trip down memory lane ends with history being rewritten, what a woman found out about her family that could change the way we all remember a historic mom
ABC
Jan 30, 2013 4:00am PST
. >>> the other big story, the economy. the powerful rally on wall street. if you've invested in stocks, these are some pretty good days. >> and for the reasons that shares are trading at near record levels, we're pleased to say we are joined here in new york by abc's tahman bradley. good morning, tahman. >> reporter: good morning, sunny and rob. so nice to be up here with you, i brought some good news. seems like the economy is turning around. new data is -- are giving both investors and home owners reasons to smile. the economy posts numbers we haven't seen in years. it looks and feels like a comeback. stocks and the nation's housing market are soaring. the dow jones nearly hit the 14,000 mark yesterday, closing at 13,954, its highest level in five years. after an increase of 850 points in january, the dow is only 200 points away from its all-time high. the result, american investments are surging. the average 401(k) retirement account increased 20% in the last year. from $64,000 to roughly $80,000. >> the worst case scenarios, that people were looking at in 2008, they can start to sa
SFGTV
Jan 30, 2013 12:00pm PST
we thank you to help grow our economy through the joint investment opportunity, we will be entering into with the approval of the proposals that are before you here today. * so, we thank you and we thank supervisor kim also for her partnership with us on this. >> thank you very much. next speaker, please. >>> good afternoon, supervisors. my name is james lim, i'medth regional managing director for [speaker not understood] hotels. [speaker not understood] operates 11 hotels in the city and it's spread throughout the neighborhoods as well in downtown san francisco. we support over 800 jobs, local jobs in the city as well. some of our hotels include the [speaker not understood] in japantown, the hotel rex, carlton, laurel lynn at laurel heights, [speaker not understood]. what's wonderful about this initiative is that we know that many of our downtown hotels benefit whenever there is a convention in the city. and what happens is that it creates compression and the business that would otherwise go to this hotels in the city also are spread throughout the neighborhoods such as the laurel
PBS
Jan 29, 2013 6:30pm PST
overall economic outlook a big thumbs up. >> expectations for the economy have risen in four of the last five months. it looks like we've reached a turning point. it is safe to assume this trend will remain stable in the future. >> many german workers are expecting their pay to increase this year. that's one reason for the upbeat mood among consumers. that's why many are considering making this year won for the big-ticket purchases. >> well, that consumer confidence data combined with a report out of the united states showing a rebound in the real estate sector prompted investors in europe to buy on tuesday. our correspondent sent us this summary from the frankfurt stock exchange. >> the german consumer is more optimistic again. that is a measurement that was put out by an organization called gfk which measures the consumer mood in germany. before now, the mood had declined for some months. but now, the return to optimism can be good news for the economy. it can be good news for jobs and also for the markets. the people in germany apparently are considering that they are going to be
CNBC
Jan 30, 2013 9:00am EST
. >> we do begin with a stunning gdp report. the economy contracted to 0.1% in the fourth quarter. first decline since 2009. this as we remain on dow 14,000 watch. the index is fewer than 46 points away from that mark. which hasn't been reached since october 2007. the dow component boeing rising pre-market. it earned $1.28 a share in the fourth quarter, beating wall street estimates. it expects no significant impact from any faa directives involving its 787 dreamliner, and is maintaining its production and delivery forecast. let's get to the gdp number. it is apparent that the economy came to somewhat of a screeching halt in the last two months of the year. >> i think cnbe played a big role. i'll calis a one off number. the reason i call it a one off number is there are way too many companies who reported during this period that did not see this level up -- well, let's just say no growth whatsoever. >> decline. that being said, it may be a one off, but it's still a bit surprising, if not scary. >> well, does it not say that the fed's been right in what it's been doing. >> it does.
FOX News
Jan 30, 2013 9:00am EST
since 1989. don't break out the bubbly just yet. we got word the economy shrunk for the first time in 3 1/2 years. stuart varney will make sense of all this. he is anchor of "varney & company" on the fox business network. stuart, what do you make of that. >> it is not always true that economic performance is directly mirrored on the stock market. in fact you have a classic example today. let me start with the very dismal news on the economy. in the last three months of last year, our economy shrunk, contracted at annualized rate of .1%. back then we were staring tax increases in the face. there was the fiscal cliff coming right at us. consumer sentiment was in a tailspin. and weak holiday sales. add it all up, and you have got a contraction of the economy at the end of last year. okay? you've got a contraction. right now, just a few short weeks later, what you've got is a near-record high for the stock market. the dow is closing in on an all-time high. that is because the housing market is recovering. that is still true, despite the slippage in the economy. housing is recovering. most
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